– Fund Size and Focus: Founders Fund has closed its third growth equity fund, Founders Fund Growth (FFG) III, at $4.6 billion, targeting late-stage investments in high-performing portfolio companies.
– FFG III, includes capital from 270 investors and is oversubscribed, reflecting strong investor demand despite a more cautious venture capital landscape.
– Peter Thiel, Napoleon Ta and Trae Stephens are the three people named as directors.
– Significant portion of the capital was provided by the firm’s general partners
– Strategic Shift: The firm is shifting away from early-stage venture funds, having reduced the size of its eighth venture capital fund in 2023 and reallocating the remaining capital to its ninth core fund.
– Notable Investments: Founders Fund is leading a $2.5 billion funding round for defense tech startup Anduril Industries at a $28 billion valuation, marking its largest single investment to date.
Portfolio Strength: The firm has a strong track record with investments in companies like SpaceX, Palantir Technologies, OpenAI, Stripe, and Figma, which continue to deliver standout returns.
